Rupee gains 5 paise to 96.48 against U.S. dollar in early trade

Mumbai: The rupee strengthened marginally in early trade on Thursday, July 23, 2026, rising 5 paise to 96.48 against the U.S. dollar.

Forex traders attributed the uptick to possible intervention by the Reserve Bank of India. A weaker greenback in global markets also provided some support to the domestic currency.

However, gains were capped by persistent headwinds. Foreign Institutional Investor outflows and sustained negative sentiment in domestic equity markets kept pressure on the rupee.

Adding to the uncertainty, heightened tensions in West Asia continued to weigh on global crude oil prices, which remained firm and limited further appreciation for the rupee.

The local unit opened higher but traded in a tight range as traders tracked RBI action, oil movement, and FII flows.